Why inflation can actually be good for everyday Americans and bad for rich people

The mortgage scenario has always been true; you pay off the loan with increasingly easier to make dollars. Of course, if you go to trade your house it is worth more- as will be everything you want to buy to replace it.
We deal with some inflation typically, but it's near impossible to keep up with the runaway situation we have now. And while wages will increase in time, inflation hits much quicker. A lot of people right now are seeing their overall net worth lose ground, the foods they can afford to put on the table shifting to cheaper things. They're seeing their utility bills and many other costs jump well beyond the government's quoted official rate of inflation too. In my own experience, personal and business- I'd put inflation at 15-20% over the last year.

Overall, the negatives of inflation increase disproportionately with the rate if takes place. And the government is definitely a major factor in creating it. The government has expanded the amount of money in circulation by 40% under Biden. That's not growth in value of money, it's dilution- meaning that money is worth less; $140 now buys what $100 bought a few year ago. People owning hard assets are better off than people with a lot of cash, rich or poor, but virtually nobody benefits from the instability of inflation at this level.

CNN would say otherwise, of course.

 

LOL

 

So more gas lighting and fake news when the Rs can't stand on anything but desperate partisan spin that is without context? FEAR the women's vote in Nov 2022.

 

But remember the guy you're talking to

Is "not a Democrat" lol

 

Don't laugh too loudly at yourself

 

Its your example. I guessed about $315-$340 of your amount after taxes. Is that not a fair estimate?

Take that amount (Or one you feel more comfortable with) and factor in the higher cost of living and tell me how this person is better off.

I come up with a net loss.

 

If you feel as if I have said something that would impinge on my integrity and/or credibility, such as me being intellectually dishonest, I most certainly invite you to plead your case.

Up until now, you have not done so.

Posting a GIF as if you had, is in effect just another example of intellectual dishonesty. You are fooling no one.

 

Probably more like $360, which makes your mortgage about 20% more affordable.

You don't have to agree with it, but it IS the silver lining in inflation, and it has always been the case.

 

In your overly optimistic misrepresentation of the current state of the economy, have you perhaps stopped to consider that not everyone has a mortgage?

 

First you obsess over me, and now you want to talk about you. LOL

Obsession over posters and calling them names is your game, not mine, but since you call me a hypocrite and dishonest and other names, even though YOU showed a post where I highlighted a "silver linings" in 2018 among some negative things (a sliver line is something positive among negative), much like I do now, and it made your head explode. Unfortunately here you are today claiming the sky is falling, but on the very same thread from 2018 you bent over backward to downplay the same situation in 2018 when cost of living went up 14% due to import tariffs.

No worries, I won't call you nasty names though. What's the point, but you did make me laugh when you proved your own hypocrisy while calling me names

So here it is again.

 

Just as I thought.

Despite your implication via GIF, you have NOTHING with which to assail my credibility. Color me shocked.

 

I am not talking about the overall state of economy, I am talking about the silver lining in inflation, which just happens to be the topic of the thread. Inflation is bad in almost every way, but there is a silver lining (mortgages become more affordable) to those who have them.

No one said everyone has a mortgage. I, for one, don't have one.

 

And it's hilarious that he pretends to not call people names.

 

Is it that you can't read, or you just don't bother to? I didn't destroy your credibility, you were foolish enough to provide the proof yourself. LOL

 

You already said that. It doesn't improve with repetition.

Biden's Fix for Sky-High Inflation: Spin, Not Progress



'Imagine you’re rushed to the hospital with a 105-degree fever. A few hours later, in comes the doctor, who tells you he’s got good news. Your temperature has dipped to' 104.9.

'When you protest that you’re still very sick and need relief, the doc soothingly says, “You’ll be fine. Getting better is a process … a process.” Now, substitute Joe Biden for the doctor and the country’s calamitous inflation rate for what ails you, and that’s a pretty good analogy for what’s worrying America.'

'Like a clueless doctor ignoring his patient’s distress, Joe Biden’s incomprehensible explanations for the near-historic inflation slamming American households are neither convincing nor based in any kind of reality. And people know it every time they get sticker shock at the gas pump or the grocery checkout.'

If it doesn't directly affect Biden, it's not a problem. Prices don't affect Biden, but your unhappiness with high prices does, so, his solution is 'don't be unhappy about high prices'!

 

Of course I did (sarcasm)

Undoubtedly that's why you don't cut and paste it and then plead your case (sarcasm). Clearly, you would rather just leave it as an unsubstantiated allegation, which is ALWAYS the tactic of those with a strong argument ( more sarcasm).

 

Good, because you will hear the women in Nov 2022. Now, all the above is fake news unless you can explain how Joe B, the bi-partisan legislation passing genius, is responsible for WORLD WIDE INFLATION. I'll wait, thanks.

 

Give Deflation A Chance!

Can you remember any, deflation?


Moi

​

 

'Despite terrible economic data and equally bad approval numbers, Biden has been out there declaring “we’re back” like an over-the-moon cheerleader without the pom-poms. His “60 Minutes” interview Sunday was prime Biden, as he told Scott Pelley that the “inflation rate month to month was just an inch, hardly at all.”

Pelley: “You’re not arguing that 8.3 percent is good news?”

Biden offered up this word salad, “No, I’m not saying it is good news. But it was 8.2 percent or — 8.2 percent before. I mean, it’s not — you’re ac — we act — make it sound like all of a sudden, ‘My god, it went to 8.2 percent.’ It’s been —”

Pelley: “It’s the highest inflation rate, Mr. President, in 40 years.”

Biden: “I got that." Biden condescends: "But guess what we are. We’re in a position where, for the last several months, it hasn’t spiked. It has just barely — it’s been basically even. So, I — look, this is a process. This is a process.”

'In the latest survey for Winning the Issues (Sept. 9–11), 71 percent said they don’t believe the statement “gas prices are now reasonable.”

'Electricity prices rose 15.8 percent in August 2022.'

“Food at Home” CPI for all Urban Consumers, shows that the last time food price increases spiked as high as today’s 13.5 percent year-over-year, Jimmy Carter was president. Back then, food inflation hit 13.6 percent in March 1979'

'The top two household expenses giving people the most difficulty remain gas prices and food costs. Back in March, when voters were asked to choose two in a list of seven household expenses, gas prices at 57 percent surpassed food costs at 44 percent as the top item. Since then, food costs (in a combined choice) have now surpassed gas prices by 61 percent to 44 percent as the toughest expense people face.'

'52 percent of the country says the personal economic and lifestyle impact of inflation has been either difficult or catastrophic, particularly among lower income people at 62 percent and middle income at 53 percent. Two-thirds of respondents, 67 percent, said they believed the statement that “at 8 percent inflation, people are losing the equivalent of one month’s income of their yearly income.”

'Despite the best efforts of Biden, his economic team and his intrepid press secretary, people aren’t swayed by esoteric discussions about inflation and recession when the price of a dozen eggs is up 40 percent. '

His divisive “Red Speech” in Philadelphia shows this isn't even his top concern, encouraging violence against Republicans is his top issue.

I do not fear the women's vote, I welcome it.

 

Correct.

I don't have to cut and paste when you went ahead and proved my point by linking in a thread from 2018

"When you notice that an opponent is making an error, take care not to interfere with the him from completing it"

 

Again good, because you WILL hear the women in Nov 2022, that ROAR for freedom! Now, all the above is fake news unless you can explain how Joe B, the bi-partisan legislation passing genius, is responsible for WORLD WIDE INFLATION. I'll wait, thanks.

 

So your "argument" is that I destroyed MY credibility by going back to 2018 to prove beyond any shadow of a doubt your hypocrisy and intellectual dishonesty today?

Hmm. Does that make sense to you?

What about looking at your posting history and cross-referencing to see if it jibes with what you claim today, constitutes a lack of credibility for me?

 

No. Why do people have to repeat everything to you, and not only once but many times?

Can you not read/comprehend, or do you simply not bother to read?

From Post 135: "here you are today claiming the sky is falling, but on the very same thread from 2018 you bent over backward to downplay the same situation in 2018 when cost of living went up 14% due to import tariffs."

See, I'm not the hypocrite here. On that thread I mentioned good things, and bad things, while you did your best to downplay 14% hike in living expenses, which is something you complain about today. So, when you accuse me of being a hypocrite, you become one yourself.

I am tired of your silliness. Have a nice & pessimistic day.

 

Inflation not seen in 40 years... Let that sink in if you're silly enough to make excuses for this administration

 

I can agree or disagree with an opinion. I can even respect an opinion I don't agree with. I don't have to accept a false statement as fact.

Taxes for $105K turns your $450 into $330 before state and local taxes. To make my case, all I have to do is show how the higher cost of living consumes this amount.

One source shows an average increase in living expenses of $300. per month per household. In most states, SALT eats what is left if not more.

You cannot make a case that the person in your example is better off. Best case scenario, they break even and the tax man is the only one getting a raise.